Darling: Tories failed test of judgement on economy

Alistair Darling MP has launched a stinging attack on the Conservative Party using his conference speech to outline the different policy choices made by the Conservative party.

Darling said:

“Had we made different choices – Tory choices – the UK and global economy would be in a very different place. So too would our prospects for the future. For as well as being a test of leadership for the Government, this crisis was a test of judgement for the Conservatives. It was a test they failed at every turn.

“Every step to limit the severity of this recession and the damage to families, they opposed. When the crisis began in the global mortgage markets, they thought the answer ws less regulation, not more. When we stepped in to save Northern Rock – protecting the savings of millions – they wanted to leave it all to the markets. When we acted to prevent the widespread collapse of the banks, they protested we were wasting our money. As the financial crisis turned into the deepest global recession since the 1930s, they alone said we should do nothing to support the economy.

“At every stage, the Tories have misunderstood the causes of the crisis. Underestimated its severity. And opposed the measures to limit its impact. And why did they get it wrong? Because the natural response of the Tories is always to step back, not step in”

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